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Thread: Venezuelan parliament votes to begin impeachment proceedings against Maduro

  1. #101
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    Re: Venezuelan parliament votes to begin impeachment proceedings against Maduro

    Exclusive: PDVSA's Partners Act as Traders of Venezuelan Oil Amid Sanctions-Documents
    Exclusive: PDVSA'''s Partners Act as Traders of Venezuelan Oil Amid Sanctions-Documents - The New York Times

    By Reuters
    Jan. 13, 2020

    CARACAS/PUNTO FIJO, Venezuela — Venezuela, its oil exports decimated by U.S. sanctions, is testing a new method of getting its crude to market: allocating cargoes to joint-venture partners including Chevron Corp, which in turn market the oil to customers in Asia and Africa.

    This would not violate sanctions as long as sale proceeds are used for paying off a venture's debts, according to three sources from joint ventures. They said this approach could help Venezuela overcome obstacles to producing and exporting oil.

    Venezuela's oil exports fell 32% last year as the U.S. government blocked imports by American companies and transactions made in U.S. dollars. PDVSA was forced to use intermediaries for crude sales as Washington pressured Venezuela's Indian and Chinese customers to halt direct purchases.

    The sanctions were designed to oust Venezuelan President Nicolas Maduro after most Western nations branded his 2018 re-election a sham.
    Click link above for full article.
    PDVSA oil exports drop 32% in 2019, mainly due to the blacklisted of oil tankers involved in the shipment of Venezuelan oil. On January 22 Chevron's license to operate in Venezuela expire, and there is a great possibility that the U.S. Treasury department would not renews it. Venezuela oil crisis keeps deepening.

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    Re: Venezuelan parliament votes to begin impeachment proceedings against Maduro

    Oil Is The Only Way Back Up For Venezuela
    Oil Is The Only Way Back Up For Venezuela | OilPrice.com

    By Editorial Dept - Jan 19, 2020, 12:00 PM CST

    There’s only one path to rebuilding Venezuela, and it’s paved with oil. For the time being, that path leads nowhere.

    The key to controlling everything now lies with the National Assembly, the only body with the power to hand out oil licenses—and Maduro’s recent scheme to retake control of the country’s oil may just have been foiled by more Trump sanctions.

    Venezuela is the 12th largest oil producer in the world and home to the world’s largest oil reserves--all of which is irrelevant as long as it remains in the throes of a deep economic and humanitarian crisis amid runaway corruption, a devalued currency and crippling sanctions by the U.S. and the EU.

    Maduro’s attempt to cling to power is relentless, but in his quest this past week to take control of the oil industry, Washington was paying close attention. And now, the rogue president and his government have suffered another major blow, with the US imposing fresh sanctions on seven Maduro acolytes.
    Click link above for full article.
    Pompeo after meeting with Venezuelan opposition leader Juan Guaido, said that the U.S. would take more actions in an effort to oust the Maduro regime. The National Assembly is the only body with the power to hand out oil licenses, making more difficult for the regime to take control of the oil industry. On January 21, the U.S. blacklisted 15 aircrafts belonging to PDVSA, another blow to the regime.

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